The three major indices of the New York Stock Exchange, which rebounded for two days, are showing mixed trends. The technology-heavy Nasdaq Composite Index has rebroken the 20,000 mark for the first time in about four months, while the Dow Jones Industrial Average is seeing a downturn.
As of 10:51 a.m. on the 25th (Eastern Time), the Dow Jones Index at the New York Stock Exchange (NYSE) is recorded at 40,049.62, down 39.40 points (0.09%) from the previous transaction.
In contrast, at the same time, the Standard and Poor's (S&P) 500 Index has risen by 9.69 points (0.16%) to 6,101.87, and the Nasdaq Index shows an increase of 89.81 points (0.45%) to 20,022.35. This is the first time the Nasdaq Index has surpassed the 20,000 mark since February 21 of this year.
The New York Stock Market previously showed gains for two consecutive transactions. This week, all three major indices have rebounded by more than 2%. The market today appears to be taking a breather while awaiting the congressional testimony of Jerome Powell, the chair of the Federal Reserve.
Chair Powell will deliver a semiannual monetary policy report in the Senate today, following his report to the U.S. House of Representatives the previous day. Market participants are expected to look for hints regarding the timing of a resumption of interest rate cuts in Powell's remarks.
By sector, only technology stocks and communication services are rising. Most other sectors are experiencing declines.
International oil prices, which plummeted the previous day, are rebounding as a result of low-priced buying activity. As of 9:50 a.m. on this day, the price of West Texas Intermediate (WTI) crude oil for August delivery is up 0.93% to $64.97 per barrel, while the price of Brent crude, the global benchmark for August delivery, has risen by 0.91% to $67.75.